Nike loses ground after JPM warns reset efforts may weigh through FY28
04/08/2026 11:00
BUZZ-Nike loses ground after JPM warns reset efforts may weigh through FY28 ** Nike NKE.N down ~3% premarket after J.P.Morgan downgraded the sportswear maker to "underweight" from "neutral" and cut its price target to $40 from $47
** Brokerage said management discussions and recent filings suggest the impact of NKE's "Win Now" turnaround actions will linger through 2H FY27 and into FY28, extending pressure on earning
** JPM adds that ongoing actions, including the Greater China reset and North America store closures, create additional headwinds and increase risk to consensus expectations
** NKE shares are down ~33% YTD
(Reporting by Rashika Singh in Bengaluru)
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